Aegion's (AEGN) Q2 Earnings & Revenues Surpass Estimates
Zacks Investment Research | Jul 31, 2019 11:28PM ET
Aegion Corporation (NASDAQ:AEGN) reported second-quarter 2019 results, wherein earnings and revenues topped the respective Zacks Consensus Estimate, courtesy of strong performance from Infrastructure Solutions and Energy Services.
The company reported adjusted earnings per share (EPS) of 37 cents, beating the consensus estimate of 36 cents by 2.8% and increasing 9% from the year-ago profit level.
Additionally, total revenues of $318.7 million topped the consensus mark of $315.8 million by 1%. However, the reported figure was down 4.9% on a year-over-year basis. On a same-store basis, revenues fell 2% due to lower contribution from a large coating project at Corrosion Protection.
Operating Highlights
Adjusted gross margin of 21.3% improved 10 basis points (bps). This upside was backed by increased productivity in North American and international Cured-in-place pipe (“CIPP”) operations within the Infrastructure Solutions unit.
Adjusted operating margin expanded 50 bps to 5.9% year over year owing to restructuring and cost-containment efforts.
Aegion Corporation Price, Consensus and EPS Surprise
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